ADDISON, Texas - (Business Wire) Friedman ’s Inc., which operated 455 retail jewelry stores under the Friedman ’s and Crescent brands, will conduct a court-ordered bankruptcy liquidation sale beginning April 5, 2008. The sale was ordered by the bankruptcy court as a result of Friedman ’s Chapter 11 filing earlier this year. Inventory valued at approximately $400 million will be liquidated at below market prices in a sale that is expected to last approximately 10-12 weeks. Merchandise to be sold will include women’s and men’s fine and fashion jewelry, featuring diamonds, other precious stones, gold and silver, as well as a wide selection of watches. The liquidation sale will involve 377 Friedman’s and Crescent store locations in 23 southeastern, southwestern and mid-western states (see store list attached). Friedman’s is currently in negotiations with an interested third party to sell its 78 remaining locations. The Friedman’s sale is being managed by a consulting group consisting of three leading national retail liquidation and asset recovery firms: Great American Group, LLC; Hudson Capital Partners, LLC; and Silverman Jeweler Consultants, Inc. “We would like to express our appreciation to all of the Friedman employees who have invested considerable time and effort into building this fine jewelry chain,” said Harvey Yellen, Chairman of Great American Group. “It is unfortunate that Friedman’s has to be liquidated after all of these years, and we will work with the employees and personnel to ensure a smooth process.” “Over the course of its 88 year history, Friedman’s has built a reputation for selling fine jewelry. This liquidation sale offers a unique opportunity to acquire quality jewelry items at extraordinary values,” added James L. Schaye, Hudson Capital Partners President and CEO. Friedman’s Inc. has been operating under Chapter 11 of the Bankruptcy Code since January 28, 2008 (U.S. Bankruptcy Court, District of Delaware, Case #08-10161 (CSS)). About Friedman’s Inc. Founded in Savannah, Georgia in 1920, Friedman’s is the largest specialty retailer of jewelry in its market of 23 southeastern, southwestern and mid-western states. The Company operates more than 385 stores under the Friedman’s brand, and 85 stores under the Crescent banner. For more information and store locations, visit www.friedmans.com. About Great American Group Based in Woodland Hills, California, with offices in Chicago, New York, Philadelphia, Boston and Atlanta, Great American Group (www.greatamerican.com; 800-85-GREAT) provides liquidation services, auctions, wind-down services, appraisals, valuations and related services, and intellectual property acquisitions. The Company’s services focus on turning excess inventory into immediate cash through strategic retail store-closings and wholesale and industrial liquidations. About Hudson Capital Partners, LLC Hudson Capital Partners, LLC offers an extensive array of professional solutions to the challenges retailers face today, including management of excess, obsolete and discontinued inventory, changing geographic and demographic circumstances, unproductive store sites, and real estate and liquidity issues. The firm’s diversified staff is experienced at performing strategic store closings and relocations, fixed asset dispositions, wholesale inventory buyouts and lease mitigations. To learn more about Hudson Capital Partners, please visit www.hudsoncpl.com. About Silverman Jeweler Consultants, Inc. Silverman provides a variety of services to jewelry related retailers, manufacturers, wholesalers and distributors. The core of its business is effectively and efficiently liquidating jewelry inventories for both healthy and distressed companies. For more information, please visit the company’s website at www.silvermanconsultants.com. Friedman’s Store Locations to Hold Liquidation Sale - Alabama: (Alexander City, Bay Minette, Birmingham, Brewton, Clanton, Coleman, Enterprise, Eufaula, Foley, Ft Payne, Oneonta, Pell City, Prattville, Tuscaloosa)
- Arkansas: (Batesville, Blytheville, Conway, Fort Smith, Paragould, Searcy, Van Buren)
- Delaware: (Seaford)
- Florida: (Bradenton, Brandon, Chiefland, Clermont, Deland, Fernandina Beach, Ft Walton Beach, Gainesville, Jacksonville, Kissimmee, Lakeland, Leesburg, MacClenny, Marianna, Melbourne, Orlando, Panama City, Port St. Lucie, St. Augustine, St. Petersburg, Starke, Tallahassee, Tampa)
- Georgia: (Americus, Athens, Augusta, Calhoun, Carrollton, Cedartown, Centerville, Columbus, Conyers, Cordele, Cornelia, Covington, Dalton, Decatur, Douglas, Douglasville, Dublin, East Point, Fayetteville, Fitzgerald, Ft Oglethorpe, Garden City, Griffin, Hartwell, Hinesville, Hiram, Jesup, Lawrenceville, Lithonia, Macon, Milledgeville, Morrow, Rome, Sandersville, Savannah, Stockbridge, Swainsboro, Thomaston, Thomasville, Thomson, Tucker, Villa Rica, Winder, Woodstock)
- Illinois: (Danville)
- Indiana: (Anderson, Bedford, Clarksville, Columbus, Corydon, Evansville, Greensburg, Greenwood, Seymour, Vincennes)
- Kentucky: (Ashland, Bardstown, Campbellsville, Danville, Elizabethtown, Georgetown, Glasgow, Hazard, Jackson, Lexington, London, Louisville, Maysville, Middlesboro, Mt. Sterling, Paris, Pikeville, Prestonsburg, Richmond, Shepherdsville)
- Louisiana: (Abbeville, Alexandria, Baton Rouge, Bossier City, Cut Off, Gonzales, Hammond, Kenner, Lafayette, Leesville, Monroe, Natchitoches, Opelousas, Ruston, Slidell, Thibodaux, Walker, Zachary)
- Maryland: (Easton, Elkton, Glen Burnie, Hagerstown, Salisbury)
- Mississippi: (Brookhaven, Gautier, Gulfport, Jackson, Lucedale, Meridian, Philadelphia, Picayune, Richland, Senatobia, Southaven, Starkville, Wiggins)
- North Carolina: (Albemarle, Durham, Elizabeth City, Fayetteville, Forest City, Garner, Gastonia, Greensboro, Henderson, Hickory, High Point, Laurinburg, Lumberton, Marion, Monroe, Mooresville, Morehead City, Morganton, Mt. Airy, Murphy, Raleigh, Rockingham, Roxboro, Sanford, Shallotte, Siler City, Smithfield, Southern Pines, Southport, Thomasville, Washington, Waynesville, Wilmington, Wilson, Zebulon,)
- Ohio: (Huber Heights, Mt. Vernon, New Boston, South Point, Wilmington)
- Oklahoma: (Norman, Tulsa)
- South Carolina: (Aiken, Barnwell, Bluffton, Camden, Charleston, Columbia, Conway, Easley, Florence, Gaffney, Georgetown, Greenville, Greenwood, Greer, Lancaster, Laurens, Lexington, Moncks Corner, N. Charleston, Newberry, North Augusta, Rock Hill, Seneca, Simpsonville, Spartanburg, Summerville, Walterboro, West Columbia, York)
- Tennessee: (Alcoa, Athens, Chattanooga, Clarksville, Cookeville, Dyersburg, Gallatin, Greeneville, Hixson, Jacksboro, Johnson City, Knoxville, Lafayette, Lebanon, Lenoir City, Madisonville, Morristown, Rockwood, Smyrna)
- Texas: (Beaumont, Copperas Cove, Early, Gainesville, Granbury, Grand Prairie, Greenville, Jacksonville, Killeen, Lewisville, Longview, Lufkin, Marshall, Mexia, Mt. Pleasant, Palestine, Paris, Plano, San Antonio, Selma, Texarkana, Victoria, Waco, Weatherford)
- Virginia: (Blackstone, Charlottesville, Chesapeake, Chester, Colonial Heights, Culpeper, Farmville, Fredericksburg, Front Royal, Lynchburg, Madison Heights, Manassas, Martinsville, Midlothian, Petersburg, Richmond, South Hill, Stafford, Staunton, Virginia Beach, Warrenton, Winchester, Wise, Wytheville)
- West Virginia: (Bluefield, Lewisburg, Martinsburg, Morgantown, Princeton, South Charleston, Summersville)
Crescent Store Locations to Hold Liquidation Sale - Arizona: (Bullhead City, Lake Havasu City, Mesa, Nogales, Phoenix, Prescott, Tucson)
- California: (Antioch, Arcadia, Bakersfield, Banning, Buena Park, Carlsbad, Carson, Citrus Heights, Clovis, Concord, Culver City, Daly City, Delano, Downey, El Cajon, El Centro, Fontana, Gilroy, Huntington Park, Lompoc, Los Angeles, Madera, Manteca, Milpitas, Montclair, Montebello, Moreno Valley, Napa, Newark, Orange, Porterville, Rancho Cucamonga, Richmond, Rohnert Park, Salinas, San Bruno, San Diego, San Jose, Santa Clara, Santa Rosa, Selma, Stockton, Tulare, Turlock, Vacaville, Vallejo, Ventura, Visalia, West Covina, Yuba City)
- Nevada: (Carson City, Las Vegas, Pahrump)
Berns Communications Group, LLC
Melissa Jaffin, 212-994-4660
mjaffin@bcg-pr.com
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